Credit Trends: U.S. Composite Credit Spreads Daily (April 29, 2011)

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AbstractStandard & Poor's investment-grade composite spread remained unchanged on Thursday at 162 basis points (bps), while the speculative-grade composite spread expanded by 5 bps to 483 bps. By rating, the 'AA' and 'BBB' spreads each widened by one basis point to 112 bps and 193 bps, respectively. The 'A' spread remained unchanged at 143 bps. The 'BB' and 'B' spreads expanded by 5 bps each to 348 bps and 507 bps, respectively. The 'CCC' spread widened by 4 bps to 725 bps. By industry, financial institutions, industrials, utilities, and telecommunications each expanded by one basis point to 246 bps, 244 bps, 171 bps, and 257 bps, respectively. Banks remained unchanged at 203 bps. Spreads have tightened overall since the beginning...